REAL ESTATE FOR SALE (€ Euro 88,000)
Apartment for sale in Berlin Tiergarten Moabit Berlin-Mitte Germany

Ref: 0000R0727


Net Yield*: 4.97% (yearly additional costs are considered)


District: Berlin-Mitte


Location: Tiergarten/ Moabit


Spacious one bedroom apartment for sale! Located in the upcoming area of Tiergarten/ Moabit in the district Mitte, this renovated and fully furnished apartment with its 76m² offers many opportunities… it is a perfect buy-to-let investment (short-term and long-term contracts) or it could be your new privately owned home. Here you find 2 rooms, fully fitted eat-in kitchen, bathroom with bath tub and a good sized entrance hall. A special “Development Plan” for modernization and infrastructure of this area from Berlin’s Senate shows the standing of the location. The district contains the historical heart of Berlin and represents in many ways the real centre of the city. Most of the main sights are located within the Mitte district, as are most of the political institutions and also many media companies. The public transportation connections are excellent.


Specifications:

Apartment is in very good condition – completely renovated in 2007

Light-flooded rooms – orientated to the street as well as to the courtyard

Fully fitted eat-in kitchen

Built-in cupboard in the corridor

Flooring: Laminate, Tiles in bathroom and kitchen

Charm of Altbau (Old Building) with high ceilings

Central heating

Well-kept courtyard

Building is in good condition

Good location in the upcoming Tiergarten/ Moabit region (district “Mitte”) – on the border to Charlottenburg; River “Spree” with its canals and the lovely Mierendorffplatz (Charlottenburg) only a few minutes walk away; near main station and park “Tiergarten”; Schloß Bellevue and Schloss Charlottenburg (Castle) are approx. 3km away, The Reichstag and Brandenburger Tor approx 4.5km. Location with great potential!

Payment:


100% after signing of the notarial purchase contract. Completed - resale property


Moabit/ Tiergarten:


With the fall of the Berlin Wall, Moabit's location has changed from a border district of West Berlin to a central district in the reunited city. Here you find mainly buildings in Wilhelminian style.
Tiergarten - Due to its proximity to the new Government District, many new buildings are being built there, such as for example the Ministry of Internal Affairs. Tiergarten (German for Animal Garden) is the name of both a large park in Berlin and a neighbourhood within the borough of the district Berlin-Mitte.


Berlin:


The capital of Germany is dynamic, cosmopolitan and creative, allowing for every kind of lifestyle. East meets West in the metropolis at the heart of a changing Europe.
After experiencing a staggering drop in housing prices since the early 90s, Berlin’s property market is springing back to life. No other property market in Europe offers such undervalued property prices and a solid rental market.


Rental Potential:

The trend goes to properties which are situated in medium/good locations near the town centre.

Berlin: 88% of the habitants are renting properties - 12% are property owners.

Germany has a strong rental culture and tenants tend to live in a property for many years. Therefore, they treat rented property as if it was their own, and this works to the advantages of the owner. Property is let without furniture so tenants must provide their own. This situation might seem a good prospect for investors looking for regular income while they wait for their property to appreciate.

One Bedroom Apartment – Fourth Floor – Front Facing Building

Rooms (Living/Dining Room and Bedroom): 2

Living Size (approx.): 76.21m²

Year of Construction: 1892

Availability/ Move-in: Immediately / Please note: Seller is renting out the flat to holiday makers; currently the net profit is approx. 1,000 Euro per month/ 12,000 Euro per year

Yearly additional costs for landlords: approx. 1,024 € per year (no allocatable overheads)


Allocatable overheads like yearly building insurance, housekeeping etc. are going on top of the basic rent and has to be paid by the tenants: approx. 2,048 € per year


Expected basic rent: 5,400 € per year (5.90 € per m²) – as fully furnished apartment and with a long term contract


Net Yield*: 4.97% (yearly additional costs are considered)